Brokerages Anticipate Genuine Parts (GPC) Will Announce Quarterly Sales of $4.58 Billion

Equities research analysts forecast that Genuine Parts (NYSE:GPC) will report sales of $4.58 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Genuine Parts’ earnings, with the lowest sales estimate coming in at $4.55 billion and the highest estimate coming in at $4.64 billion. Genuine Parts reported sales of $4.21 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.8%. The firm is scheduled to announce its next earnings results on Tuesday, February 19th.

According to Zacks, analysts expect that Genuine Parts will report full-year sales of $18.71 billion for the current fiscal year, with estimates ranging from $18.68 billion to $18.78 billion. For the next financial year, analysts anticipate that the company will report sales of $19.55 billion, with estimates ranging from $19.28 billion to $19.84 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Genuine Parts.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, October 18th. The specialty retailer reported $1.48 EPS for the quarter, hitting analysts’ consensus estimates of $1.48. Genuine Parts had a net margin of 3.99% and a return on equity of 22.54%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the previous year, the firm posted $1.16 EPS. The firm’s revenue was up 15.3% on a year-over-year basis.

A number of equities research analysts have commented on the stock. ValuEngine downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Bank of America cut shares of Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a research note on Tuesday, October 30th. Finally, Zacks Investment Research cut shares of Genuine Parts from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $104.60.

Several institutional investors have recently modified their holdings of GPC. Ffcm LLC boosted its stake in shares of Genuine Parts by 43.4% during the 3rd quarter. Ffcm LLC now owns 14,322 shares of the specialty retailer’s stock worth $108,000 after acquiring an additional 4,332 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Genuine Parts during the 2nd quarter valued at $110,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Genuine Parts by 87.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,613 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 754 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Genuine Parts during the 2nd quarter valued at $158,000. Finally, Resources Management Corp CT ADV purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $159,000. Institutional investors and hedge funds own 75.11% of the company’s stock.

NYSE:GPC traded down $0.29 during trading hours on Friday, reaching $99.72. The company had a trading volume of 235,788 shares, compared to its average volume of 895,735. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. Genuine Parts has a 52 week low of $85.80 and a 52 week high of $107.75. The company has a market cap of $14.68 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.66 and a beta of 1.11.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 7th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, December 6th. Genuine Parts’s dividend payout ratio is presently 62.07%.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.

Featured Story: Find a Trading Strategy That Works

Get a free copy of the Zacks research report on Genuine Parts (GPC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Genuine Parts (NYSE:GPC)

Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply